I would like to enter the property market as business venture any advice?

[sheilao6]

I would like to purchase some cheap property to renovate and sell to see if I can make a profit from it and if so continue to do it as a living.

[Beckylou]

There's so many people doing this now so there's not that many cheep properties out there. The best place is auctions but set your self a limit and don't get drawn in to go over this. Beware because they recon that the market is out-pricing itself and it's going to crash soon so you may not get the return your after.

Good luck x

[Astrid]

You can buy new property to rent so,paying the mortgage and no cost of renovation.That's easy money.
Or you can start with small cheap properties that need some (not great) renovation.My advice is to keep within budget on the renovation side of things.Costs can soon spiral out of control
Be realistic about how much you can expect to sell on for.Do your homework on the prices on property in the area.
Get a survey on the property,and get good builders.
Learn how to take orders for cups of tea i.e. how many sugars and no milk please!
You will need good organising skills and keep to timescales.
Don't show anger to the builders if something goes wrong,they are really sensitive souls and might walk off the job.
Best of luck.

[shailesh s]

With business you still have to pay this tax & that tax, but ih you get a house its an investment without tax, buy & sell your gross profit is your net, but if you want more value then ofcourse you need to give a facelift with the property.

You can still buy a property any price use 7.5k as deposit, I just invested money on a beautiful house, don’t have to earn big money to buy a big house, just 7.5k deposit and earning around15k per annum, i have a small bar in my house playing room too, call richard on uk property invest on 01214525600 tell him I told you.

[MARK G]

Hi,
The property market at the moment is at a stage where it is very difficult to buy spend 10K on it then sell on for 20K profit.
The reason why is that they are a shortage of housing for people ,Hence pushing property prices high.
The best way is to start small and buy a back to back and rent it out £50 per month cheaper than anyone else . This then encourages the tenant to stay because the rent is value for money. For example if you rent for £400.00 per month and the property is empty for six months,but if you was £50.00 cheaper the tenant would stay giving you 12 months per year rent.
If your morgage is £395.00 a month you are basically losing £45.00 pounds each month .The answer to that is put enough deposit down on the house so you make the morgage £340.00 per month giving you £10.00 per month profit .If you do this with 10 houses you will make £100.00 pounds per month gross profit,but in ten years time each property will have doubled in value . For example if each house costed you £50.000 each then 10 years on the property is worth £100.000 you then sell and make a cool Half a million.EASY.....The last tip is to get all your morgages on a interest only basis this will keep more money with you while your building the business.
Regards Mark